Mubadala leads new Series B $15m fundraise to help launch Sarwa Trade and Sarwa Crypto
Sarwa, a partner of the Hub71 community in Abu Dhabi, has closed a $15 million Series B financing round to fund its expansion plans including the launch of personal finance products, such as Sarwa Trade and Sarwa Crypto. Sarwa will use the new capital to further expand its market position and grow its team, as well as launch several new products, to build on its ambitions to address all aspects of personal finance.
As one of the fastest growing investment and personal finance platform in the MENA region, Sarwa’s funding was led by Mubadala Investment Company supported by funding from 500 Startups, Kuwait Projects Company, Shorooq Partners, Middle East Venture Partners, DIFC, Hambro Perks Oryx Fund, HALA Ventures and Vision Ventures with representatives of Mubadala and 500 Startups joining Sarwa’s Board of Directors.
Through its mobile app, Sarwa aims to deliver more innovative personal finance products, such as Sarwa Trade and Sarwa Crypto. Sarwa Trade, which is currently in the pre-launch stage, is a commission-free stock trading platform that allows investors to trade with as little as US$1 on major exchanges across the world. Sarwa Crypto portfolios provide the same global diversification as the Sarwa Invest portfolio, with an added 5 percent exposure to Grayscale Bitcoin Trust GBTC, the world’s first and largest publicly quoted Bitcoin investment vehicle. In June 2021, Sarwa Invest also lowered its minimum investment amount to just US$5 from an initial US$500 to reflect its commitment to democratize investing.
Mark Chahwan, Co-Founder and CEO of Sarwa, said, “Everyone on the team is excited to begin this new chapter. This investment will fuel our growth so that we can reach millions more. We want to ensure that everyone has access to simple, smart, and affordable financial products and services. Having the support of some of the world’s leading investors proves that Sarwa is well-positioned to lead this transformation in the region.”
With a turbulent global financial landscape in 2020, Sarwa experienced an influx of new clients, leading deposits to nearly double. By investing on global markets through Sarwa, investors realized average year-on-year returns of more than 33 percent for a balanced portfolio, which averaged out to 11 percent over a five-year period.
Founded in 2017, Sarwa was the first FinTech company to be licensed as a digital financial advisor for young professionals in the MENA region and was awarded the first-ever Innovation Testing License by the Dubai Financial Services Authority. Its flagship product, Sarwa Invest, was designed to provide automated investing in globally diversified portfolios. To date, Sarwa has raised around US$25 million from regional and international investors, as well as government funds.